Point72 Hong Kong Ltd Has $33.06 Million Holdings in Amer Sports, Inc. (NYSE:AS)

Point72 Hong Kong Ltd lessened its stake in shares of Amer Sports, Inc. (NYSE:AS) by 36.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,072,882 shares of the company’s stock after selling 1,201,637 shares during the period. Amer Sports accounts for about 2.3% of Point72 Hong Kong Ltd’s portfolio, making the stock its 5th biggest position. Point72 Hong Kong Ltd’s holdings in Amer Sports were worth $33,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AS. PDT Partners LLC bought a new position in Amer Sports in the 3rd quarter valued at about $1,698,000. Verition Fund Management LLC acquired a new stake in shares of Amer Sports during the 3rd quarter worth approximately $301,000. Woodson Capital Management LP bought a new position in Amer Sports in the third quarter valued at approximately $12,907,000. Walleye Capital LLC acquired a new position in Amer Sports during the third quarter valued at approximately $274,000. Finally, BNP Paribas Financial Markets lifted its stake in Amer Sports by 734.8% during the third quarter. BNP Paribas Financial Markets now owns 80,760 shares of the company’s stock worth $1,288,000 after purchasing an additional 71,086 shares during the last quarter. 40.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AS. Citigroup lifted their price target on Amer Sports from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lifted their target price on Amer Sports from $19.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. UBS Group increased their target price on shares of Amer Sports from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price target on shares of Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, Evercore ISI reissued an “outperform” rating and issued a $26.00 price objective (up previously from $25.00) on shares of Amer Sports in a research note on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.43.

Amer Sports Stock Performance

Shares of Amer Sports stock opened at $26.33 on Friday. Amer Sports, Inc. has a twelve month low of $10.11 and a twelve month high of $26.85. The company’s fifty day moving average is $19.20 and its 200 day moving average is $15.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 0.77.

About Amer Sports

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.